New SPARTAN™ product meets the needs of low denominations
26 September 2018
The latest edition of Currency News featured SPARTAN™, our new polymer banknote engineered specifically for low denominations with excellent durability.
30 years on from CCL Secure helping to pioneer the very first polymer banknote, we have developed a solution to address the growing challenge that central banks face at the coin/note boundary. SPARTAN™ is highly durable and cost effective, produced in a single end-to-end process. The result is a banknote that meets the pressures required for low denominations in a demanding cash cycle.
The leading industry publication reported:
SPARTAN™ can look, feel and perform like other notes and is ideally suited to replace or avoid introducing coins which, says CCL Secure, are generally disliked.
CCL Secure’s Head of Product Management, Dr Tim Berridge, said that SPARTAN™ presents an innovative new way to overcome the challenges common to coins and low denominations.
"Economies are constantly changing, which directly impacts the currency needs of a country. Denominational drift puts stress on low denomination notes to move to coins, yet we know coins have their own problems with public acceptance and costs. These costs are not just in the materials and production, but also in management in the cash cycle. Traditional banknotes are also not the answer," he commented.
"What’s required is to start from ground zero and reconsider the purpose and requirements of a low denomination banknote. And that’s what CCL Secure has done with SPARTAN™. Essentially what it provides for central banks is the opportunity to introduce cost-effective low denomination banknotes with a long note life, or to replace coins with a solution more palatable to the public."
The manufacturing process for SPARTAN™ involves design, origination and production all within CCL Secure’s controlled environment. This proprietary process is what gives SPARTAN™ its exceptional durability, while remaining cost effective, says the company.
Functionally, the banknotes meet the security and cash cycle performance needs for a low denomination. It will also be finished and packaged in the same format as other banknotes.
"For low denominations, durability is the priority. Typically we see a lower counterfeit threat to banknotes that have low face values and so SPARTAN™ has been developed with the principle objective of lasting for long periods of time in the cash cycle," said Dr Berridge.
Inflation and denominational drift are not the only trends impacting currency decisions. A central bank’s carbon footprint is becoming increasingly important and the public’s voice on the importance of sustainability is getting louder.
SPARTAN™ is 100% recyclable, offering an environmentally friendly way to remove unfit banknotes from the cash cycle.
"A denomination structure which uses SPARTAN™ for low banknotes and GUARDIAN™ polymer substrate for higher denominations is where currency is heading in my mind. And there is no company more experienced in polymer than CCL Secure to make this a reality," concluded Dr Berridge.